CalPortland Co. CEO Allen Hamblen and Continental Cement Co. President Tom Beck have been elected 2017 chairman and vice chairman of the Portland Cement Association Board of Directors. Hamblen succeeds LafargeHolcim, U.S. Cement CEO John Stull, crediting his “leadership in guiding strategic initiatives that reflect industry priorities.”
“My focus as chairman will be to look for ways PCA can engage other associations in complementary and collaborative ways. I believe that together we can accomplish great things for the cement industry,” adds Hamblen, who has worked with Glendora, Calif.-based CalPortland and predecessor companies for 31 years. Prior to taking the helm in 2006, he was president and chief executive officer of the company’s Oregon and Washington cement, aggregate and ready mixed concrete business, Glacier Northwest. Hamblen is also a past National Ready Mixed Concrete Association chairman and Washington Aggregates and Concrete Association president, and continues as a Ready Mixed Concrete Research & Education Foundation trustee.
PCA Vice Chairman Beck served as senior vice president of Chesterfield, Mo.-based Continental Cement from 2005–2013, and as vice president of Sales & Marketing for nearly 10 years prior. He is a past chairman of the American Concrete Pavement Association.
MEXICO CONSORTIUM ADDS GIANT CEMENT
The board of Elementia S.A.B. de C.V., Mexico City, cleared a multi-step transaction with Spain’s Cementos Portland Valderrivas S.A., yielding a U.S. cement market stake through Giant Cement Holding Inc. The late-2016 deal saw a) Elementia pay $220 million for a 55 percent stake and full control of the business; b) Elementia grant Giant Cement a $305 million loan through committed credit lines; and, c) Giant Cement utilize the $525 million infusion to retire 100 percent of its debt.
The latter will reduce financial costs by more than 75 percent, freeing sufficient cash flow to execute investments required to capture opportunities Elementia envisions in the U.S. Giant Cement spans namesake, Dragon Products Co. and Keystone brands, respectively, across South Carolina, Maine and Pennsylvania cement plants, totaling 2.8 million tons/year capacity; six terminals serving New England, New York, Virginia and the Carolinas; three limestone and two sand & gravel operations; and, four waste handling and processing sites.
The transaction, notes Elementia CEO Fernando Ruiz Jacques, “marks a major milestone as we successfully enter the U.S. cement market and take another solid step within our growth strategy.”